House Passes Katrina Tax Relief; Bill Helps Victims and Volunteers

House Passes Katrina Tax Relief; Bill Helps Victims and Volunteers

Washington, Sep 16 - Today U.S. Congressman Sam Johnson (3rd Dist.-Texas) supported H.R. 3768, the Katrina Emergency Tax Relief Act of 2005. By providing fast-track tax relief, the bill will give people affected by Hurricane Katrina more flexibility and resources. In addition, the bill will encourage cash donations to help victims and will provide incentives for housing assistance.

"So many people have lost so much. This is just one more way to help those who are literally facing the very daunting task of starting their lives all over again. By providing tax relief for housing assistance, personal loss and individual debts, victims of Hurricane Katrina will be able to focus their time and efforts on building a future, not future tax bills," said Johnson.

For those people affected by Katrina in Louisiana, Mississippi and Alabama, the bill provides tax relief for housing assistance to dislocated persons. The measure also waives 10-percent tax on early distributions from IRAs and pensions for individuals affected by the hurricane, among other things. For a more comprehensive list of tax relief, visit SamJohnson.house.gov.

The bill also helps the countless people assisting the evacuees out of the goodness of their hearts. The Act encourages cash donations by people, encourages cash donations by corporations, and increases the mileage reimbursement rate for charitable donation deductions.

"Since Hurricane Katrina rocked the Gulf, the people of Dallas have welcomed evacuees with open arms. They have opened their hearts and homes to make sure kids are enrolled in schools, parents can find jobs, and families are reunited. It's no wonder a local news paper has devoted an entire section to 'Hurricane Heroes.' They're everywhere! This bill helps both the victims and the volunteers."

http://www.samjohnson.house.gov/News/DocumentSingle.aspx?DocumentID=34431